Chinese Airbnb rival Tujia raises $300 mn, now valued at over $1.5 bn

Tujia.com, China's biggest short-term property rental firm, said on Tuesday it had raised $300 million from investors, valuing it at more than $1.5 billion as it looks to tap growing demand from Chinese tourists for independent travel.

Tujia?s main rival in China is Airbnb, which is beefing up its presence and looking to lure in the country?s young millennials. Airbnb was valued at billion last year. (Reuters)